MIAMI, Aug. 8, 2017 /PRNewswire/ -- Continental National Bank in partnership with Miami–Dade Small Business Development Division has relaunched a program designed to lend short term working capital to SBE firms. The program's kickoff workshop was held this past Thursday, July 27th.
The Small Business Bonding and Financial Assistance Program (SBBFAP) offers eligible Small Business Enterprise (SBE) firms, including (SBE) Goods, Services, Construction and Architecture & Engineering firms a line of credit financing up to $250,000. The borrowed amounts will be used to fund invoices or requisitions for work completed under a Miami-Dade County contract or subcontract.
"The Small Business Development Division of Miami–Dade County is pleased to continue our partnership - with Mr. Diaz-Rousselot and Continental National Bank for their ongoing support in assuring that small business owners have access once again to bonding and financial assistance for their businesses. Historically, this has been a major inhibitor to success. We believe this program will have positive and productive results for the Miami-Dade community," said Gary Hartfield, Director of Small Business Development Division of Miami Dade Internal Services Department.
"We are committed to helping small businesses grow. For 43 years we have provided access to capital that helps drive business expansion and strengthen our economy. Already, this program is supporting business growth and new opportunities for small business owners across our county," expressed Guillermo Diaz-Rousselot, President and CEO of Continental National Bank in his keynote address.
"For long, small business owners have been held back from participating in county projects and other large undertakings, because they had difficulty getting the necessary funds," Small Business Officer Ivette Llopiz said. "We are pleased to be a part of this program again, that will help change that. The Small Business Bonding & Financial Assistance Program will open up new opportunities and give these business owners the chance to tackle more and larger projects, to grow their businesses, to create jobs and foster economic development all across our community."
Also attending the kickoff event was Miguel Miranda Senior Vice President and Credit Administrator of Continental National Bank; Gladys Keith of FSB Agency Inc; Jonathan Bursevich of Alter Surety; John Bowen of Credit360; Laurie Johnson, SBD Section Chief and Carlos Ansuarez, Small Bonding and Loan Coordinator of Small Business Development (SBD) a division of the Internal Services Department of Miami-Dade County who spearheaded the implementation of this initiative.
About Continental National Bank
Continental National Bank is a full-service community bank established in 1974 in Miami as the first Cuban-American-chartered national bank in the United States, serving its customers for over 43 years. With five branches conveniently located throughout Miami-Dade County, and with more than $490 million in assets, Continental National Bank was awarded the five-star "superior" rating by Bauer Financial and has been recognized as a top community bank. The Bank offers a full range of financial and lending products and services for retail, business and institutional clients.
About Small Business Development Division
Small Business Development (SBD) is a division of the Internal Services Department of Miami-Dade County. SBD is responsible for the administration of Miami-Dade County's Small Business Enterprise Programs, Wage and Workforce Programs. Additionally, SBD is responsible for the County's Debarment, Cone of Silence, Selection Committee Formations, Change Order Coordination Process, Equitable Distribution Program, and Miscellaneous Construction Contracts Program as mandated by County Code, implementing orders, and federal regulations.
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SOURCE Continental National Bank